Here, here. Its the age of entitlement and alternative facts, unfortunately, where every joe-schmow, no matter how ill informed, can demand their opinion has the same weight as experts. JM has successfully ran ADN from a micro-cap explorer to where it is today, on the cusp of mining. He says he needs his chair. Yet, somehow, so many posters who admit their lack of knowledge, think they know better.
They also fail to grasp previous remuneration's option's value should be based on black-scholes at the time of issue, not on some future price. Sure as hell, if the SP tanked, and the Directors options became worthless, I doubt anyone would demand the Directors get paid retrospective cash in lieu. Essentially, what these posters are demanding, is to expose the Directors to the downside, but demand a refund when they realise the upside. Great way to incentivize a board.
If shareholders want hands on management, start your own company. Being a shareholder doesn't give you the right to run the company. You get to vote at the AGM, and that's about it. And that's the way it should be. Don't like it, start your own company, or sell and find another company with management you trust. I highly doubt there are many shareholders who could actually run a company. Yet, here they are, effectively demanding to overturn the MD's clearly stated wishes to keep the BoD.
If you do not trust JM enough to respect his wishes to keep his BoD, then you should sell ADN, because if you cannot trust him on such a fundamental principle, then what can you trust him on?
Lastly, has anyone considered the possibility that JM enjoys the limelight, whereas the rest of the BoD do not? There are plenty of great people who make great contributions, but aren't interested on getting on the stage.
ADN Price at posting:
16.8¢ Sentiment: Buy Disclosure: Held
(20min delay)